An audit of Grambling State University issued today found that it had lost track of more than $900,000 in office, computer, and other equipment, but that was a positive verdict for the oft-troubled Louisiana institution, the Associated Press reported. The university now is suffering no more “shrinkage” in its property than other state agencies, according to the AP, and the missing equipment amounted to only “blips in the radar,” an auditor said.

Best of all, from Grambling’s perspective, was that once again the university could be successfully audited. Five years ago, Grambling was suffering through a stretch of mismanagement in which the books were in such disarray that state officials concluded they were unauditable (The Chronicle, October 18, 2002). The fiscal woes led to a run-in with Grambling’s accreditor, which put it on probation. But the university turned a corner, and in 2003 it received a clean audit of its finances (The Chronicle, October 3, 2003) and won restoration of its accreditation (The Chronicle, December 10, 2003).